POLK COUNTY BANK Failed 2011

JOHNSTON, IA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

POLK COUNTY BANK of JOHNSTON, IA was closed on 2011-11-18. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to GRINNELL STATE BANK (GRINNELL, IA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3979
FDIC Certificate
14194
FDIC FIN
10414
Bank name
POLK COUNTY BANK
Location
JOHNSTON, IA
Failure date
2011-11-18
FDIC resolution date
2011-11-18
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$16M
Deposits at failure
$82M
Assets at failure
$92M
Acquiring bank
GRINNELL STATE BANK (GRINNELL, IA)